**For the DSI:

**Import data from device storage and set as time series. Select worksheet "Mastersheet" with the headings as rows

tsset Year

**Perform Spearman and Pearson tests for correlation. The output is in the DSI sheet.

spearman DTR DTX Debt ITR EDTE EDRES

pwcorr DTR DTX Debt ITR EDTE EDRES

**Estimate the PCA and use the Kaiser Criteria for Eigenvalues of more than one

pca DTR DTX Debt ITR EDTE EDRES

**Plot the Scree Plot as a measure of robustness

screeplot

**To predict the two components

predict pc1 pc2

// The results from Table 2 can be estimated by:

ivreg2 PB l.PB l.DSI MPG (l.OG =  COG FD TO Elec), gmm2s robust

ivreg2 PB l.PB l.DSI l.MPG (l.OG =  COG FD TO Elec), gmm2s robust

ivreg2 PB l.PB l.DSI EMPG (l.OG =  COG FD TO Elec), gmm2s robust

ivreg2 PB l.PB l.DSI l.EMPG (l.OG =  COG FD TO Elec), gmm2s robust

//regress PB l.PB l.Debt MPG l.OG, robust

//ivreg2 PB l.PB l.Debt MPG (l.OG =  COG FD TO Elec), robust

//The results from Table 4 can be estimated by:

ivreg2 PB l.PB l.Debt (l.OG =  COG FD TO Elec), gmm2s robust

ivreg2 PB l.PB l.Debt MPG (l.OG =  COG FD TO Elec), gmm2s robust

ivreg2 PB l.PB l.Debt EMPG (l.OG =  COG FD TO Elec), gmm2s robust

ivreg2 PB l.PB l.DTR MPG (l.OG =  COG FD TO), gmm2s robust

ivreg2 PB l.PB l.DTR EMPG (l.OG =  COG FD TO), gmm2s robust

ivreg2 PB l.PB l.DTX MPG (l.OG =  COG FD TO Elec ), gmm2s robust

ivreg2 PB l.PB l.DTX EMPG (l.OG =  COG FD TO Elec ), gmm2s robust

ivreg2 PB l.PB l.ITR MPG (l.OG =  COG FD TO ), gmm2s robust

ivreg2 PB l.PB l.ITR EMPG (l.OG =  COG FD TO ), gmm2s robust

//For Table 5B

varsoc PB

dfuller PB, noconstant lags(1)

dfuller PB, trend regress lags(1)

dfuller PB, drift regress lags(1)

pperron PB, noconstant lags(1)

pperron PB, trend lags(1)

//For Table 6B

varsoc TR

varsoc TE

dfuller TR, noconstant lags(1)

dfuller TR, trend lags(1)

dfuller TR, drift lags(1)

pperron TR, noconstant lags(1)

pperron TR, trend lags(1)

dfuller TE, noconstant lags(1)

dfuller TE, trend lags(1)

dfuller TE, drift lags(1)

pperron TE, noconstant lags(1)

pperron TE, trend lags(1)

//For Table 7B:

varsoc TR TE

vecrank TR TE, trend(none) lags(2)

vecrank TR TE, trend(constant) lags(2)

vecrank TR TE, trend(trend) lags(2)

egranger TR TE

vec TR TE, trend(trend) lags(1)

vec TR TE, trend(none) lags(1)

vec TR TE, trend(constant) lags(1)

**Import data from device storage and set as time series. Select worksheet "DVI" with the headings as rows

//tsset Year

**Perform Spearman and Pearson tests for correlation.

//spearman DTR DTX Debt ITR EDTE EDRES

//pwcorr DTR DTX Debt ITR EDTE EDRES

**Estimate the PCA and use the Kaiser Criteria for Eigenvalues of more than one

//pca DTR DTX Debt ITR EDTE EDRES

**Plot the Scree Plot as a measure of robustness

//screeplot

**To predict the  component

//predict pc1

////The results from Table 9 can be estimated by:

ivreg2 PB l.PB l.DVI (l.OG =  l.COG FD TO CAB), gmm2s robust

ivreg2 PB l.PB l.DVI MPG (l.OG =  l.COG FD TO CAB), gmm2s robust

ivreg2 PB l.PB l.DVI EMPG (l.OG =  l.COG FD TO CAB), gmm2s robust